No Comments

AMCAL Equities, LLC, announced the close of financing and start of construction on Phase One of a 520-unit multi-family community in Fort Worth

The Holston Fort Worth Starts Construction on the First of Two Phases on a Site Adjacent to the Perot Family Master-Planned AllianceTexas Community

November 18, 2018 – Fort Worth, TX – AMCAL Equities, LLC, announced the completion of financing and the start of construction of The Holston Fort Worth, the first phase of a 35.3-acre multifamily residential development with 520 total apartments.

The site, located at 3301 Westport Parkway in North Fort Worth, is situated adjacent to AllianceTexas, the Perot family’s 26,000-acre master-planned community and home to affiliates of more than 500 companies, of which 69 are Fortune 500 corporations.  It is also conveniently located in the Northwest Independent School District, one of the fastest growing and most sought-after school districts for college-bound students
in North Fort Worth.

The Holston Phase I will feature 265 “Class A” apartment homes in configurations of one-, two- and three-bedroom apartments, and generous in-unit and community amenity packages.  Located on a 12.32 acre site, the community will be comprised of four three-story, garden-style buildings with a combination of tuck-under garages and on-grade parking for a total of 440 spaces.  Construction began on November 15 and the first apartments are scheduled to be delivered in January 2021, and the last building to be delivered in June 2021.

“This new housing is intended to be attainable for essential workers in this growing community and local economy and provides a fabulous opportunity for local workers and other renters to be in close proximity to their jobs, recreational venues and other services,” says Percival Vaz, CEO of AMCAL Equities.”

About AMCAL Equities, LLC

Since 1978, AMCAL Equities, LLC, and the AMCAL Group of Companies have developed more than $2.5 billion in high-quality multifamily housing projects consisting of more than 7,000 units throughout California, Texas and Washington. AMCAL has been consistently recognized for its solid financial performance and strong, conservative balance sheet which has enabled it to partner with some of the world’s leading financial institutions including Barings Multifamily Capital, Bank of America, JPMorgan, Comerica, Star America, Anchor Capital and many others. For more information, please visit https://www.amcalhousing.com/market-rate-communities/.

No Comments

Affordable housing complex breaks ground in north Houston

AMTEX broke ground on its second development in Houston on November 14, 2019. AMTEX Green Oaks Affordable Multifamily Housing Development is a 177-Unit Apartment Complex located in Northeast Houston. 

The Green Oaks Apartments Development is designed to close the substantial shortage of affordable housing units in Houston. According to the Houston Housing Authority, “Recent Census data indicates that over 400,000 households in Houston qualify for housing assistance at 80% of the Area Median Income (AMI), additionally there are 155,582 families currently living in poverty. More than 200,000 families in Houston pay greater than 30% of their income for housing. The existing housing stock only provides affordable opportunities for 76,725 families in Houston. This sheds light on the extent of the need for affordable housing for all families at all income ranges below 80% of AMI. The Houston Housing Authority aims to increase the number of affordable housing units available for qualified residents within its jurisdiction.”

The City of Houston Housing and Community Development Department awarded AMTEX’s Green Oaks Apartment Development the competitive four percent Housing Tax Credits. The Green Oaks Development received unanimous support from the City of Houston Mayor and City Council, led by City Council District B Council Member Jerry Davis. The project also received overwhelming support from Harris County Commission Precinct One, The Honorable Thompson, TX House of Representatives, Dist. 141, area Neighborhood Home-Owner Associations, Business Chambers and the surrounding northeast Houston community. The Green Oaks Apartment Development is in Northeast Houston on Gears Road, Greens Parkway, and Greensmark Drive, Houston, Harris County, Texas. In addition to providing housing for the target population, AMTEX is committed to providing economic development opportunities for minority and women-owned businesses, HUD Section 3 Businesses, and training and employment opportunities for Section 3 residents.

See this link for an article in the Houston Chronicle about the groundbreaking ceremony for Green Oaks. AMTEX’s other development in Houston is the Villages at Cypress, a 162-unit development for seniors that was completed in 2014.

MENU